Shares of Macy’s Inc. (NYSE:M) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $35.57 and last traded at $35.65, with a volume of 2,775,775 shares trading hands. The stock had previously closed at $36.82.

A number of analysts have recently issued reports on the stock. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $44.66 price target on the stock. in a report on Tuesday, April 19th. Zacks Investment Research downgraded shares of Macy’s from a “buy” rating to a “sell” rating in a report on Wednesday, April 27th. Royal Bank Of Canada assumed coverage on shares of Macy’s in a report on Tuesday, May 3rd. They set a “sector perform” rating and a $42.00 price target on the stock. Finally, Deutsche Bank AG raised their price target on shares of Macy’s from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and a consensus price target of $44.32.

The firm has a market capitalization of $11.01 billion and a PE ratio of 11.66. The firm’s 50-day moving average price is $33.88 and its 200-day moving average price is $38.11.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, May 11th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. During the same quarter in the prior year, the company earned $0.56 EPS. The firm earned $5.77 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Macy’s’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities research analysts predict that Macy’s Inc. will post $3.26 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were given a $0.3775 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, June 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.23%.

A number of large investors have recently modified their holdings of M. Deimos Asset Management LLC purchased a new stake in shares of Macy’s during the fourth quarter worth approximately $1,049,000. MUFG Americas Holdings Corp increased its position in shares of Macy’s by 4.1% in the fourth quarter. MUFG Americas Holdings Corp now owns 32,058 shares of the company’s stock worth $1,122,000 after buying an additional 1,260 shares during the last quarter. Strategic Global Advisors LLC increased its position in shares of Macy’s by 3.6% in the fourth quarter. Strategic Global Advisors LLC now owns 38,732 shares of the company’s stock worth $1,355,000 after buying an additional 1,344 shares during the last quarter. Westbourne Investment Advisors Inc. increased its position in shares of Macy’s by 39.5% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 38,992 shares of the company’s stock worth $1,364,000 after buying an additional 11,035 shares during the last quarter. Finally, Norinchukin Bank The increased its position in shares of Macy’s by 3.5% in the fourth quarter. Norinchukin Bank The now owns 43,189 shares of the company’s stock worth $1,511,000 after buying an additional 1,450 shares during the last quarter.

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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